TaxTMI 
TaxTMI 
2020 (9) TMI 21
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....he Id. CIT(A) wrongly confirmed addition of Rs. 6,00,000/- in the name of Sh. Rakesh Kumar as cash credit, and did not allow telescopic benefit out of amount surrendered at Rs. 35 lacs during survey dated 21.01.2009. 3. That the ld.CIT(A) wrongly confirmed addition to Building Account at Rs. 3,45,156/- without telescoping the amount surrendered at Rs. 35 lacs in survey dated 21.01.2009. 4. That the revenue has not appreciated that the assessee cooperated and surrendered Rs. 35 lacs in survey dated 21.01.2009 when it was the first year of business and no benefit of surrender was allowed to the appellant. 5. That the Ld. CIT(A) has not allowed depreciation on the Hotel Building valued at Rs. 76,02,895/-, nor he has given any finding on ....
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....thorities and in addition to this, ld. AR submitted that during the course of assessment proceedings, the accountant has filed wrong balance sheet and the matter was also could not present before the AO because some impounded papers relating to the consideration of hotel business was not related to this impugned assessment year. This matter was also taken up before the CIT(A) but the CIT(A) disposed off this matter by stating that the remand report is silent in this regard and he directed the AO to verify the fact the impugned records and to take a remedial action in accordance with the Income Tax Act, 1961 but till date no any remedial action has been taken by the AO. Ld. AR also requested for the telescoping from the surrendered amount of....
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....ciding the appeal of the assessee. Therefore, as per our considered opinion, this matter should go back to the file of AO for further verification regarding the addition made on the hotel building. The AO is also directed to give telescoping from the surrendered if the assessee has paid taxes on the entire surrendered amount. If it is found otherwise, then the AO is directed to consider the amount on which the assessee has paid taxes thereon. The AO is also directed to grant depreciation if the assessee is eligible as per the Income Tax Act on the hotel building and if the depreciation was not claimed while calculating the taxable income of the assessee. Needless to say, a reasonable opportunity of being heard be given to the assessee and ....
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....to note that the expression "ordinarily" has been used in the said rule itself. This rule was inserted as a result of directions of Hon'ble High Court in the case of Shivsagar Veg Restaurant vs ACIT (2009) 319 ITR 433 (Bom), wherein, it was, inter alia, observed as under: "We, therefore, direct the President of the Appellate Tribunal to frame and lay down the guidelines in the similar lines as are laid down by the Apex Court in the case of Anil Rai (supra) and to issue appropriate administrative directions to all the benches of the Tribunal in that behalf. We hope and trust that suitable guidelines shall be framed and issued by the President of the Appellate Tribunal within shortest reasonable time and followed strictly by all the Benches....
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....ot much of a relaxation in subsequent lockdowns also. In any case, there was unprecedented disruption of judicial wok all over the country. As a matter of fact, it has been such an unprecedented situation, causing disruption in the functioning of judicial machinery, that Hon'ble Supreme Court of India, in an unprecedented order in the history of India and vide order dated 6.5.2020 read with order dated 23.3.2020, extended the limitation to exclude not only this lockdown period but also afew more days prior to, and after, the lockdown by observing that "In case the limitation has expired after 15.03.2020 then the period from 15.03.2020 till the date on which the lockdown is lifted in the jurisdictional area where the dispute lies or where th....
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....are of the considered view that rather than taking a pedantic view of the rule requiring pronouncement of orders within 90 days, disregarding the important fact that the entire country was in lockdown, we should compute the period of 90 days by excluding at least the period during which the lockdown was in force. We must factor ground realities in mind while interpreting the time limit for the pronouncement of the order. Law is not brooding omnipotence in the sky. It is a pragmatic tool of the social order. The tenets of law being enacted on the basis of pragmatism, and that is how the law is required to interpreted. The interpretation so assigned by us is not only inconsonance with the letter and spirit of rule 34(5) but is also a pragmati....